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Why Line Stock Popped 26% on Wednesday

TheMotleyFool

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Shares of Line Corp. (NYSE: LN) jumped 26.6% on Wednesday after Reuters reported the messaging app company is in talks for a potential merger with SoftBank's Z Holdings (formerly known as Yahoo! Japan). Separately, Z Holdings stock rallied 9.2% today on the news.

Z Holdings confirmed the talks to Reuters late Wednesday, while Line issued a statement that it is indeed "considering ways to improve its corporate value" -- though both companies insisted nothing is set in stone just yet.

IMAGE SOURCE: GETTY IMAGES.

Source Fool.com

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